Intel has grown to become Israel’s largest privately held employer and exporter and a leader of the local electronics and information industry. It acquired the Israel-based Mobileye Global, which develops and deploys advanced driver-assistance systems, for $15 billion back in 2017.
Government support has been critical in these investment decisions, according to Intel, and come at a time when both the US and Europe are working to attract big industrial players with a mix of state subsidies and favourable legislation. The German government is thought to have provided increased subsidies worth more than $10.9bn for the new facility in Dresden, although that has yet to be confirmed.
But while western governments are investing billions of euros in subsidies to lure tech companies at a time of growing alarm over supply chain fragility and dependence on South Korea and Taiwan for semiconductors, there remains a real need to improve the entrepreneurial and innovative capabilities and capacity across Europe’s semiconductor industry.
